- Gaining 419x his original investment, the super diamond trader sells SHIB for $1.1 million.
- SHIB is currently trading at $0.0000248, up about 0.77% in the last 24 hours.
3.5 years of inactivity for a super diamond trader resulted in a large profit on the sale of his Shiba Inu (SHIB) assets. One of the best deals in recent Bitcoin history, this one demonstrates the enormous potential for profits in the erratic cryptocurrency market.
Investing 2 ETH, or $2,625 at the time, the trader bought 48.09 billion SHIB tokens on February 1, 2021. Going forward, the trader received a stunning 278.7 ETH, or over $1.1 million, for these tokens, according to Lookonchain.
The amazing gain of 419x the original investment from this transaction emphasizes the profitable prospects that can come from wise cryptocurrency investing.
After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit.
He spent 2 $ETH($2,625) to buy 48.09B $SHIB on Feb 1, 2021, and sold it for 278.7 $ETH($1.1M) just now, a gain of 419x!https://t.co/Pw9i9wbKcn pic.twitter.com/Qvp9wKpWCc
— Lookonchain (@lookonchain) May 27, 2024
SHIB’s Current Market Performance
CoinMarketCap data shows that SHIB is currently valued at about $0.0000248. This is a slight rise of 0.77% from the last 24 hours.
But throughout the last seven days, the token has been trending down, down 2.37%. Even with this current negative performance, experts and investors are nonetheless interested in SHIB’s long-term prospects.
ETHNews brought to light a noteworthy technical sign for the Shiba Inu token earlier this month. Creating a golden cross, the 20-day Exponential Moving Average (EMA) passed over the 50-day EMA.
Many times, this technical pattern indicates that SHIB has room to rise in the medium term. The golden cross suggests growing buying momentum, which, should the trend continue, may result in additional price appreciation.
Meanwhile, by 2024, a number of additional investors will have also claimed significant returns from SHIB. One noteworthy example is of an unidentified investor who purchased a sizable portion of SHIB at its early low price and just sold it for millions.